<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1061566567187268&amp;ev=PageView&amp;noscript=1">
Skip to content

More on HOA, FHA and delinquencies


Question:

On another thread, Louise quoted some FHA guidelines, and my question pertains to this part: "Delinquent Dues: No more than 15% of units can be arrears in their assessments more than 60 days."

What about a small condo with only six units? Each owner is already more than 15 percent of all owners.

Question 1) If one owner is behind in paying HOA fees by more than 60 days, we are in violation of the FHA guidelines--right?

Question 2) What else does "more than 60 days" mean? Can it also mean that if one owner owes only one month's fees but still owes for the month of June in October (more than 60 days), we are in violation?

Question 3) If each of two of the six owners is late in paying one month's fees and both pay after 30 days but before 60 days, are we in violation?

It seems more difficult for a small condominium to stay on the "approved" side of FHA guidelines than for a large condo of 20 units or more. Does the FHA take size into consideration at all? Next year, we will apply for re-certification, and I am concerned about how strictly the FHA applies its guidelines to small condominiums.


Answers (27)

What are your thoughts on this topic? Please share your answers below. We ask that you remain respectful of each other, and be advised that responses are monitored.